In the past decade of the the Belt and Road Initiative, China ASEAN cooperation in the field of green development has gained a firm foothold and implemented green development. Liu Jintao, an associate researcher at the Chongyang Institute of Finance at Renmin University of China, pointed out that the foundation of green cooperation between China and ASEAN lies in the full adaptation of investment and demand from both sides.

External Eco-investing along the the Belt and Road

Liu Jintao, associate researcher of Chongyang Institute of Finance, Renmin University of China, said that after China started the process of dual carbon goals, such foreign Eco-investing along the the Belt and Road also witnessed some leapfrog growth. And with the current national dual carbon goals entering a substantial stage of progress, China's foreign Eco-inveting along the the Belt and Road, including the promotion of enterprises going out with the help of the the Belt and Road and other fields, will match the needs of ASEAN's various green industry investments in a financial way. At present, ASEAN countries need $200 billion of Eco-investing every year, while the annual capital supply is only $40 billion, which provides opportunities for Chinese enterprises going global along the the Belt and Road. In addition, the green cooperation between China and ASEAN countries also has objective operability in implementation.

For developing countries in China and Southeast Asia, taking reasonable measures to reduce carbon emissions until they reach their peak is also objectively feasible for ASEAN countries to achieve. For example, promoting some ASEAN countries to switch to clean raw materials in infrastructure construction projects, implementing clean energy substitution, and improving the cleanliness of energy consumption can steadily achieve a basic peak of their total social emissions.

In the process of carrying out green cooperation along the the Belt and Road, China and ASEAN may also come from the obstruction or containment of some western developed countries led by Europe and the United States. For example, by means of the Paris Agreement, pressure is exerted on some developing countries. It can be confirmed that the developed countries committed to provide 100 billion dollars of climate assistance to developing countries every year a few years ago, but these assistance may not be implemented.

The the Belt and Road construction benchmark: China Laos Railway

In December 2021, the China Laos Railway will be put into operation. As an important bridge connecting China and Laos, the China Laos Railway is not only a transportation channel, but also a trade, economic and cultural channel. At the same time, it also leads the the Belt and Road green cooperation into a new process.

The China Laos Railway is a benchmark for China to carry out infrastructure projects along the the Belt and Road. Since its opening 18 months ago, it has sent a total of 16.4 million passengers and over 21 million tons of goods. Compared to sea or road transportation, railway transportation can usually transport goods from China to ASEAN countries at a faster speed, or vice versa, greatly improving the efficiency of trade and transportation between China and Laos, as well as connecting more countries in the future.

As a low-carbon transportation mode, the China Laos railway has lower carbon emissions and energy consumption than the traditional road transportation and air transportation. The operation of the railway has also opened up the green industry chain and supply chain of countries along the the Belt and Road, making green development no longer a matter of one country. Under the framework of the the Belt and Road Initiative, as a very important component and case, China Laos Railway can share relevant green technologies and practices to jointly promote the construction and development of the the Belt and Road green industrial chain and supply chain. From the perspective of green tourism industry development, the China Laos Railway connects Southwestern China and Laos, covering a rich and diverse cultural heritage and tourism resources, which will promote the development of cultural tourism and attract more tourists and tourists to explore.

The ecological and cultural tourism resources along the China Laos Railway are also very rich. For example, Vang Vieng Station has applied local Karst Plateau landform and South Pine and elements to their indoor ceiling design, including Vientiane railway station, which also integrates the new architectural forms of traditional cultural construction in China and Laos. These cases can be reflected in the ecological and cultural characteristics along the China Laos railway, including a large number of Old-growth forest and villages between stations and along the way, which maintain the original Natural landscape.

The construction experience of the China Laos Railway also provides important reference value for other the Belt and Road projects. Whether from infrastructure construction to project management, or from cooperation mode to technological innovation, the success of the China Laos Railway highlights the importance of regional cooperation. Liu Jintao said that in the future, China and ASEAN will create more win-win cooperation in the field of green development.

From the perspective of the future, China and ASEAN, driven by the the Belt and Road Initiative and framework, will also create more opportunities in the field of green development, and can also discuss with more relevant enterprises how to effectively carry out some financial or tax incentives to gradually open up foreign investment and attract more foreign investment, and play an important role of green finance in supporting the the Belt and Road overseas green development.Editor/Ma Xue